Dogecoin is back in the spotlight after crypto whales scooped up more than one billion DOGE in the past 24 hours, according to on-chain data shared by analyst @ali_charts.
The surge in whale activity comes as DOGE trades around $0.2011, despite posting a 3.18% drop over the last day and a 7.38% decline over the past week.
The significant accumulation follows a volatile few weeks for Dogecoin. As shown in the Santiment chart shared in the post, large holders had previously trimmed their positions, but the recent spike suggests renewed confidence or strategic positioning—possibly in anticipation of a broader altcoin rebound or DOGE-specific catalysts.
At the time of writing, Dogecoin ranks as the 9th largest cryptocurrency by market cap, sitting at just over $30.2 billion, with daily trading volume surpassing $1.5 billion. Despite the price retracement, the strong volume and whale activity suggest DOGE remains a key asset on traders’ radar.
Historically, similar large-scale buys have preceded significant price movements, though timing and direction remain uncertain.
The move also comes amid a period of mixed performance across the meme coin sector, with Dogecoin’s rivals like Shiba Inu and PEPE seeing fluctuating sentiment and inconsistent trading patterns. However, Dogecoin’s deep liquidity and high-profile backing—often fueled by Elon Musk’s social media commentary—continue to make it a preferred asset among large-scale speculators.
For now, traders will be watching closely to see whether this whale accumulation is a sign of an upcoming breakout—or just another head fake in a choppy market.
Conclusion:
With over 1 billion DOGE snapped up in a day, all eyes are on whether this bold move from crypto whales will reignite Dogecoin’s momentum. If history is any guide, where the whales go, retail often follows.
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Source: https://coindoo.com/market/dogecoin-sees-major-whale-buy-will-the-price-follow/